Step by step process on how to convert your Global Products vendor to American dollar.
Global Products Price File Currency Change
Global Products has decided to offer their price file in American Dollars only. This means that you will need to change a setting on your vendor to convert the MSRP and Cost to your local currency.
Below is a step by step process on how to convert your Global Products vendor to American Dollar. Please perform these steps BEFORE your next price file update.
It is also recommended that you discuss this change with your controller before to ensure the proper exchange rate is established.
Access you Global Products Vendor Details:
- Click system settings;
- Click Vendor;
- Click General Info;
- Search Global Products Vendor;
- Double click the Global Vendor.
Changing the currency to USD:
The vendor detail will have a field called “Currency”. Please Select USD in the drop-down menu, then save the change.
After saving, a pop-up screen will appear asking you how you would like to handle the new currency:
Make sure you select the “Update Price and Cost on foreign currency”, then click OK. The process should take a moment.
Once the process is completed, your parts pricing will have a new column with American Dollar pricing and the exchange rate used to create the conversion:
The price file update will affect the USD pricing which will then be converted into your local currency.
Note: The price file only modifies Cost, Mfg Price (MSRP) and Standard Price. If you do not want the price file to modify the standard price, please ensure to change the option on the price file import tool.